Cash requires specific internal controls because:
A) cash is one of the most difficult assets to steal.
B) cash is difficult to convert to other forms of wealth.
C) all transactions ultimately affect cash.
D) cash is difficult to conceal.

Question

Quizplus · Accepted Answer

All transactions ultimately affect cash, which means that cash requires specific internal controls to ensure that there are no errors or discrepancies in the accounting for cash transactions. Without specific controls, cash-related errors can go undetected, leading to financial losses or other negative consequences for the organization.

Cash Requires Specific Internal Controls Because